GameStop Files Q3 2024 10-Q

TL;DR

GME filed its Q3 10-Q. Check financials.

AI Summary

GameStop Corp. filed its 10-Q for the period ending November 2, 2024. The filing details financial performance and operational updates for the third quarter of fiscal year 2024. Specific financial figures and operational metrics are provided within the report.

Why It Matters

This filing provides investors with the latest financial health and operational performance of GameStop, crucial for understanding the company's trajectory in the retail sector.

Risk Assessment

Risk Level: medium — GameStop operates in a volatile retail environment and has faced significant market fluctuations, making its financial performance inherently risky.

Key Players & Entities

• GameStop Corp. (company) — Filer of the 10-Q
• 2024-11-02 (date) — End of reporting period
• 2024-12-10 (date) — Filing date
• 625 WESTPORT PARKWAY (location) — Company's business and mailing address
• GRAPEVINE, TX 76051 (location) — Company's business and mailing address

FAQ

Filing Documents

• gme-20241102.htm (10-Q) — 932KB
• ex311-fy24q3.htm (EX-31.1) — 18KB
• ex312-fy24q3.htm (EX-31.2) — 17KB
• ex321-fy24q3.htm (EX-32.1) — 7KB
• ex322-fy24q3.htm (EX-32.2) — 7KB
• gme-20241102_g1.jpg (GRAPHIC) — 686KB
• 0001326380-24-000170.txt ( ) — 6250KB
• gme-20241102.xsd (EX-101.SCH) — 27KB
• gme-20241102_cal.xml (EX-101.CAL) — 51KB
• gme-20241102_def.xml (EX-101.DEF) — 113KB
• gme-20241102_lab.xml (EX-101.LAB) — 418KB
• gme-20241102_pre.xml (EX-101.PRE) — 274KB
• gme-20241102_htm.xml (XML) — 601KB

— FINANCIAL INFORMATION

Part I — FINANCIAL INFORMATION Page No.

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets — As of November 2, 2024, October 28, 2023 and February 3, 2024 1 Condensed Consolidated Statements of Operations — For the three and nine months ended November 2 , 2024 and October 28, 2024 2 Condensed Consolidated Statements of Comprehensive Income (Loss) — For the three and nine months ended November 2, 20 24 and O ctober 28, 2023 4 Condensed Consolidated Statements of Cash Flows — For the nine months ended November 2 , 2024 and October 28, 2023 3 Condensed Consolidated Statements of Stockholders' Equity — For the three and nine months ended November 2 , 2024 and October 2 8 , 2023 5 Notes to Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

— OTHER INFORMATION

PART II — OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25

SIGNATURES

SIGNATURES 26 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GAMESTOP CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except par value per share) (unaudited) November 2, 2024 October 28, 2023 February 3, 2024 ASSETS Current assets: Cash and cash equivalents $ 4,583.4 $ 909.0 $ 921.7 Marketable securities 32.8 300.5 277.6 Receivables, net of allowance of $ 3.8 , $ 2.1 and $ 4.4 , respectively 57.5 88.3 91.0 Merchandise inventories, net 830.2 1,021.3 632.5 Prepaid expenses and other current assets 119.4 57.7 51.4 Total current assets 5,623.3 2,376.8 1,974.2 Property and equipment, net of accumulated depreciation of $ 768.9 , $ 973.0 and $ 851.2 , respectively 70.5 114.5 94.9 Operating lease right-of-use assets 425.3 570.4 555.8 Deferred income taxes 17.7 16.6 17.3 Other noncurrent assets 103.4 68.6 66.8 Total assets $ 6,240.2 $ 3,146.9 $ 2,709.0 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 494.1 $ 812.7 $ 324.0 Accrued liabilities and other current liabilities 437.0 425.7 412.0 Current portion of operating lease liabilities 157.6 188.9 187.7 Current portion of long-term debt 10.9 10.5 10.8 Total current liabilities 1,099.6 1,437.8 934.5 Long-term debt 9.6 20.0 17.7 Operating lease liabilities 285.4 394.8 386.6 Other long-term liabilities 41.1 31.5 31.6 Total liabilities 1,435.7 1,884.1 1,370.4 Stockholders' equity: Class A common stock — $ .001 par value; 1,000 shares authorized; 446.8 , 305.5 and 305.7 shares issued and outstanding, respectively 0.2 0.1 0.1 Additional paid-in capital 5,099.7 1,627.5 1,634.9 Accumulated other comprehensive loss ( 82.3 ) ( 88.9 ) ( 83.6 ) Retained loss ( 213.1 ) ( 275.9 ) ( 212.8 ) Total stockholders' equity 4,804.5 1,262.8 1,338.6 Total liabilities and stockholders' equity $ 6,240.2 $ 3,146.9 $ 2,709.0 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents GAMESTOP CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in millions, excep

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View this 10-Q filing on SEC EDGAR